sp'daily5
Summary
Okay...so..here we go....holiday trading.
There is ZERO reason why the market will sell lower today, not least since few are around anyway. As ever, such holiday trading tends to favour the bulls...algo-bot low volume melt...to the upside. Whether we get a weekly close in the sp'1900s...almost seems inconsequential.
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Notable weakness, the shippers, DRYS -4.6%
...which is kinda surprising, considering the transports sector as a whole is broadly strong.
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10.15am.. The R2K is breaking out of descending trend.
RS target remains 1170/80...which is 50//60pts higher..and would equate to sp'1920..maybe a little higher.
VIX breaking new low...11.61.
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